UOP LLC, a wholly-owned subsidiary of a
Honeywell International Inc
), recently announced that China's Jiangsu Sailboat Petrochemical
Co. Ltd has obtained its license for advanced methanol-to-olefin
(MTO) process to convert methanol from gasified coal into key
plastics building blocks. Honeywell has already licensed three
(MTO) projects with production scheduled to begin this year.
Jiangsu Sailboat - a subsidiary of Shenghong Group - will utilize
the advanced MTO process to convert methanol from non-crude oil
sources like coal or natural gas into ethylene and propylene.
This MTO process technology is flexible and enables plan
operators to address the market demand in an effective manner.
The technology is well suited for the petrochemical producers in
China facilitating access to cheaper coal, achieving higher
yields and reduces their operating costs. We remain encouraged by
Honeywell's continuous efforts to launch new products and
technologies and expand its business in geographical regions.
Located in Lianyungang City, Jiangsu Province, China, Jiangsu
Sailboat is expected to produce 833,000 metric tons of ethylene
and propylene annually once it gets operational in 2015.
Additionally, the unit is also expected to provide feedstock to
downstream units producing 4 million metric tons of petrochemical
Headquartered in Des Plaines, IL, UOP is a supplier and licensor
of process technology, catalysts, adsorbents, process plants, and
consulting services to the petroleum refining, petrochemical, and
gas processing industries across the globe.
Honeywell is a global diversified technology and manufacturing
company with a wide range of aerospace products and services,
control, sensing and security technologies for buildings, homes
and industry, turbochargers, automotive products, specialty
chemicals, electronic and advanced materials, process technology
for refining and petrochemicals and energy efficient products and
solutions for homes, business and transportation. In the last
reported quarter, Honeywell's revenues remained flat year over
year at $9.3 billion due to prevailing macroeconomic
Honeywell currently has a Zacks Rank #2 (Buy). Other stocks
that look promising and are worth a look now are
Carlisle Companies Incorporated
Macquarie Infrastructure Company LLC, Inc
), each carrying a Zacks Rank #2 (Buy)
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